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marian2006

Has anyone ever used litigation finance?

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My business has a pending lawsuit in New York Supreme Court against one of our former business partners for violating his noncompete clause. I got a lawyer in New York who was willing to take the case on contingency, but now he's telling me I need $15,000 for depositions and costs. It looks like there are companies online that can pay for these things, but has anyone ever used them? Are they reliable? 

 

Here's the litigation finance company I was looking at called Legalist...it came up as an ad on Google. Does anybody know if they're reliable? 

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Not appropriate to ask about a particular company since it is highly unlikely anyone here has used that company versus others.  However, you must realize that such companies are lending money, usually in cases that have a very high probability of success, and expect to make a profit doing it.

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20 hours ago, marian2006 said:

has anyone ever used them?

 

Yes.

 

 

20 hours ago, marian2006 said:

Are they reliable?

 

Not quite sure what "reliable" means in this context.  All you're doing is taking out a loan secured by your recovery in the litigation.  Obviously, whether taking such a loan is a good or bad idea depends on the terms of the loan.

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